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from Global Investing:
It may end up sounding like a famous ball-point pen maker, but an argument is being made that Goldman Sach's famous marketing device, the BRICs, should really be the BICs. Does Russia really deserve to be a BRIC, asks Anders Åslund, senior fellow at the Peterson Institute for International Economics, in an article for Foreign Policy.
Åslund, who is also co-author with Andrew Kuchins of "The Russian Balance Sheet", reckons the Russia of Putin and Medvedev is just not worthy of inclusion alongside Brazil, India and China in the list of blue-chip economic powerhouses. He writes:
The country's economic performance has plummeted to such a dismal level that one must ask whether it is entitled to have any say at all on the global economy, compared with the other, more functional members of its cohort.
I have just returned from Moscow, which is always dreary around this season. But this year, the mood among the capital's eloquent liberal economists has hit a new low. For the last seven years, Russia has undertaken no significant economic reforms. Instead, the state has been living off oil and gas, like a lucky but undeserving rentier."
A crucial part of gunman Mohammad Ajmal Kasab's confession at the Mumbai attack trial has been censored by the judge on the grounds that it could inflame religious tensions between Hindus and Muslims in India. After stunning the court on Monday by admitting guilt in the the three-day rampage that killed 166 people, Kasab gave further testimony on Tuesday that included details about his training by Lashkar-e-Taiba (LeT), a Pakistan-based militant group on U.S. and Indian terrorist lists.
The front-page report in today's The Hindu, which noted the judge's gag order in its sub-header, put it this way:
Do dead terrorists lose all right to any respect? I ask this because my post Should India cremate Mumbai militants, spread ashes at sea? last week has prompted a surprising wave of comments suggesting these corpses should be desecrated. Readers have been proposing (and we have been deleting) graphic and crude scenarios for disposing of the nine corpses still lying in a Mumbai morgue. The proposed solution of cremating the bodies and spreading the ashes at sea - originally from a blog post by Leor Halevi in the Washington Post - seemed far too tame for them. (Photo: Gunmen at Mumbai train station, 26 Nov 2008/Official CCTV image via Reuters TV)
The Mumbai militants were murderers. Once they're dead, though, what purpose would it serve to dismember them, feed them to crocodiles or turn them into a stoning pillar? What would it say about the Indian government if it disposed of these bodies without even the barest minimum of respect for the dead? Indeed, what does it say about readers who want it to do just that?
The bodies of nine Islamic militants killed while attacking Mumbai in November still lie in a public morgue there. Indian Islamic leaders have refused to bury them in a local Muslim cemetery, saying terrorists "have no religion" and do not deserve a religious funeral. Although India suspects the militants came from neighbouring Pakistan, Islamabad refuses to take the bodies back as this could presumably undermine its claim to have no link to the gunmen. Indian officials say they still need the bodies for their investigations into the Nov. 26-29 massacre, in which 179 people were killed, but those inquiries will end some day. What should the Indians do with the bodies then?
A U.S. historian has come up with a proposal that would dispose of the bodies without requiring Pakistan to take them. Leor Halevi, a professor of Islamic history at Vanderbilt University in Nashville, Tennessee, wrote in the Washington Postthat India should cremate them and scatter the ashes in international waters, as Israel did after executing the Nazi commander Adolf Eichmann in 1962. He notes this would be an un-Islamic method of burial and would avoid a permanent grave that could become a memorial for other militants. He writes: